The US unemployment rate fell to 3.7%, a 48-year low, in September, according to the monthly jobs report released by the Bureau of Labour Statistics. At the same time, there are more jobs open than ever, with 757,000 retail-job openings across the US in July, about 100,000 more than a year ago.

As a response, companies are scrambling to win over employees with new perks and higher pay.

On Tuesday, Amazon announced plans to raise the company’s minimum wage in the US to $US15 per hour. The company also said it will work to gain Congressional support to increase the federal minimum wage.

Amazon is just the latest in a list of companies to raise minimum wage. While the federal minimum wage remains $US7.25 per hour,Business Insider Today reports that most of the largest retailers in the US pay significantly more than that.